Advisers now view AI as opportunity for firms rather than a threat

Many think AI could be useful for efficiency and automation

Sahar Nazir
clock • 1 min read

The majority (70%) of financial advisers now view artificial intelligence (AI) technology applications such as ChatGPT as an opportunity rather than a threat to their business, according to Schroders.

The proportion of advisers who think that the development of AI is important to their business has risen to 70% from 57% in May. This is according to the Schroders UK Financial Adviser Pulse Survey 2023 which was conducted among 254 advisers between 20 October and 6 November 2023. Moreover, 85% of advisers said they now anticipate incorporating AI-based technology applications in their advice process in some way in the future, whilst 17% expect to incorporate AI within the next 12 months. The majority (63%) of advisers think AI could be useful for efficiency and automation, whilst ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Titan Wealth snaps up Workplace Advice Group

Titan Wealth snaps up Workplace Advice Group

Acquired business will ‘work closely’ with Titan Wealth Planning

Sahar Nazir
clock 01 April 2025 • 2 min read
FSCS deposit protection limit could rise to £110,000

FSCS deposit protection limit could rise to £110,000

Proposal would take effect from December 2025 if approved

Sahar Nazir
clock 31 March 2025 • 2 min read
Rathbones labels two funds under 'Sustainability Focus' category

Rathbones labels two funds under 'Sustainability Focus' category

Effective from 2 April

Sorin Dojan
clock 31 March 2025 • 1 min read